After using configurator to reset stripe via FW800 to stripe, drive no longer visible under Disk Utility (nor Finder , of cos). Before that it was behaving a bit weird also in the last few days on Timecapsule.

The configurator work ok to reset the RAID. Its final message was "now you need to format your disk .." or something to that effect .

How do I fix this? ie get to see the G-Raid in Disk Utility again? I've tried connecting via the USB port as well.

Thanks for posting. In order for the configurator to work properly it must be connected via USB. You may need to toggle back to the setting it was on before and apply then toggle again to the new setting via USB. If you have any more trouble with it let me know.